# Markets mixed on new crop estimates

> Soybean futures held firm after the May USDA report, while corn and most wheat contracts fell. USDA projected 2021-22 corn ending stocks at 1.507 billion bushels, above the 1.344 billion trade average, and forecast a large U.S. wheat harvest.

- Date: 2021-05-12 · published 2021-05-12T12:00:00.000Z
- Category: report · region US · magnitude medium
- Page: https://feedsoft.ai/events/47043-markets-mixed-on-new-crop-estimates
- Commodities: [Corn](https://feedsoft.ai/c/CORN.md), [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md), [Soybeans](https://feedsoft.ai/c/SOY.md)

## Why it matters

Higher new-crop corn stocks and prospects for a large U.S. wheat crop point to lower feed grain and wheat prices, while smaller Argentine soybean output supports soybean values.

## Read by commodity

- SOY: bullish ▲
- CORN: bearish ▼
- WHEAT: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| CORN | 2018-08-10 | [Markets plunge on big crops](https://feedsoft.ai/events/8651-markets-plunge-on-big-crops.md) | -7.5% | -9.1% |
| CORN | 2019-10-10 | [Mixed reports churn markets](https://feedsoft.ai/events/8768-mixed-reports-churn-markets.md) | +0.1% | -1.3% |
| CORN | 2017-03-06 | [USDA releases new crop estimates for major crops - Agweek \| #1 source for agriculture news, farming, markets](https://feedsoft.ai/events/71835-usda-releases-new-crop-estimates-for-major-crops-agweek-1-source-for.md) | -3.8% | -2.0% |
| CORN | 2019-07-15 | [Global crop estimates down \| Farm Online \| ACT](https://feedsoft.ai/events/58041-global-crop-estimates-down-farm-online-act.md) | -2.6% | -7.4% |
| CORN | 2023-09-13 | [France cuts wheat crop estimate, raises maize](https://feedsoft.ai/events/34028-france-cuts-wheat-crop-estimate-raises-maize.md) | -7.1% | -5.9% |
| WHEAT | 2022-01-12 | [Markets mixed on USDA data](https://feedsoft.ai/events/43102-markets-mixed-on-usda-data.md) | +3.9% | +2.0% |
| WHEAT | 2018-08-10 | [Markets plunge on big crops](https://feedsoft.ai/events/8651-markets-plunge-on-big-crops.md) | -2.9% | +2.5% |
| WHEAT | 2019-10-10 | [Mixed reports churn markets](https://feedsoft.ai/events/8768-mixed-reports-churn-markets.md) | +4.1% | +1.9% |

## Sources

- farmprogress.com: https://www.farmprogress.com/business/markets-mixed-on-new-crop-estimates

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.